Emmanuel Vanbrussel

Are bonds issued by well-known champion companies as safe as government debt? More and more investors seem to think so, judging by the small yield differentials between, for example, Microsoft and US government paper or between AXA and French government bonds.

Assets managed through discretionary mandates have expanded more slowly in Europa over the past ten years than assets held in investment funds. That is the conclusion of Efama, the European fund industry association, in its latest sector review.

Many fund houses mark Liberation Day—the day president Trump announced sharply higher US trade tariffs—as the standout moment of 2025, according to the Investment Officer Outlook Survey 2026. But what surprised asset managers even more was how quickly markets carried on in the months that followed, as if nothing had happened.

Fund house Amundi presented its strategic three-year plan on Tuesday. It includes a new business line focused on active ETFs and white-label ETFs.

As institutional investors worldwide increase their exposure to private markets, a trio of Belgian institutions offered a timely reminder that success in the asset class depends as much on discipline as on opportunity.

As commercial director at Baloise Vie Luxembourg, Tine Vanmassenhove guides wealthy Belgians through the world of Luxembourg investments. The grand duchy has undeniable advantages, she says, though these are now most pronounced for larger fortunes.

Data giant S&P Global, best known for its credit ratings, is strengthening its position in the fast-growing market for private and alternative investments with the acquisition of the London-based platform With Intelligence for 1.8 billion dollars. The seller is Motive Partners, founded by Belgian fintech leader Rob Heyvaert.

The groundbreaking acquisition of AXA Investment Managers by BNP Paribas is becoming increasingly concrete on the ground. In Brussels, AXA IM Benelux is being dissolved after nearly thirty years. The branch in Amsterdam will also disappear.

Degroof Petercam sees many new opportunities for international cooperation following its takeover by the French Indosuez, said CEO Sylvie Huret in an interview with Investment Officer. Not only within Indosuez, but in the wider ecosystem of parent group Crédit Agricole, which also includes fund giant Amundi.

Frédéric Degembe, Chief Investment Officer of ING Belgium, is enthusiastic about the unified Investment Centre announced by parent group ING. “It’s a growth story in which Brussels can play a key role,” he said.